The Minister for Education, Haruna Iddrisu says Finance Minister Dr. Cassiel Ato Forson laid bare all there is to know about the national economy in his presentation of the 2025 Budget statement, suggesting that he hid nothing much like a woman in labour.
Appearing on Joy FM’s Super Morning Show on March 12, to discuss the 2025 Budget, Mr. Iddrisu shared his thoughts on a variety of issues, from Education, Energy, Agriculture, and Health.
Mr. Iddrisu described the budget as a sobering reflection of the current state of Ghana’s economy, explaining that Dr. Forson’s budget painted a concerning picture for the country, revealing an economy burdened by overwhelming debt.
“What we witnessed was an economy burdened by debt, an economy in crisis, one that is on the verge of failing,” Mr. Iddrisu remarked.
While acknowledging modest growth figures, Mr. Iddrisu made it clear that growth alone cannot be seen as a true improvement in the living standards of Ghanaians.
“Growth alone,” he said, “is not enough. It does not reflect the deep challenges that Ghanaians continue to face in their daily lives.”
A significant concern for Mr. Iddrisu was the state of the cocoa sector, which has long been a cornerstone of Ghana’s economy.
He posed a critical question: “How is it that the Cocoa Board, once the backbone of our economy, is now struggling?”
He emphasised that the cocoa sector has been a major source of employment, foreign exchange, and income for many farmers and workers.
However, Mr. Iddrisu pointed out, “Today, the Cocoa Board is mired in debt,” underscoring the ongoing struggles facing this vital sector.
Furthermore, Mr. Iddrisu highlighted the staggering national debt, which has now surpassed GH₵750 billion.
He also pointed to the debts within key sectors such as cocoa, energy, and roads.
“We have a national public debt, a cocoa sector debt, an energy sector debt, and a road sector debt,” he stressed.
He warned that Ghana is facing a complex economic crisis on multiple fronts. “The situation is far more complex than what the budget may suggest,” Mr. Iddrisu added.
Despite these challenges, he cautioned Ghanaians not to expect the first budget of President Mahama’s first term to provide instant solutions to all the nation’s problems.
“The expectations of Ghanaians should be realistic,“ he stated, further explaining that the budget is merely a starting point for the government to address the pressing issues facing the country.
“This is why the Finance Minister called on the public to join him in building the Ghana we want,” Mr. Iddrisu added.
He emphasised the need for unity and collective effort to address the economic challenges the country faces.
“What we need now is to correct the ills caused by the mismanagement of the economy,” he urged, stressing that only through collaboration and shared responsibility can Ghana overcome its current struggles and move toward a better future.
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